IBPS Clerk English Reading Comprehension Quiz 6

2 years ago .

Here is IBPS Clerk English Reading Comprehension Quiz 6 for upcoming Banking exams like IBPS Clerk and other Banking Exams. This quiz contains important questions which match the pattern of IBPS Clerk and other Banking Exams, so make sure you attempt today’s IBPS Clerk English Quiz to check your preparation level.

Read the passage given below and then answer the questions given below the passage. Some words may be highlighted for your attention. Pay careful attention.

After four months battling to pass unpopular security legislation, Shinzo Abe, Japan’s prime minister, lost no time in returning to somewhat safer ground: the economy. On September 24th he fired off what he called “three new arrows” in service of Abenomics, his programme of monetary easing, fiscal stimulus and far-reaching structural reform. Yet recent data suggest the economy may offer Mr Abe no respite from a bruising year.

Japan’s GDP shrank by 1.2% on an annualised basis in the second quarter, after expanding in the first. Now worries about the third quarter are mounting. Industrial production continued to fall in August, suggesting that the economy may even have entered recession in the quarter. In addition, for the first time since the government embarked on Abenomics in April 2013, prices in Japan are falling again, albeit only slightly. One key gauge of inflation, core CPI (the consumer-price index excluding fresh food), fell by 0.1% in August.

It is all dire news for the Bank of Japan (BoJ), which is supposed to get prices rising by 2% a year by next autumn. The bank’s preferred measure of inflation is now “core core” CPI, which excludes energy as well as food, and which is rising. Yet broad inflation expectations may be affected by the news of deflation’s return. The BoJ will surely come under renewed pressure to expand its existing programme of monetary easing at the end of October, when it is due to update its economic forecasts.

Mr Abe’s new arrows did little to pierce the gloom. The first, a pledge to boost nominal GDP by 22% to ¥600 trillion ($5 trillion), was met with scepticism since Mr Abe gave no time frame, nor any detail on how to reach it. Nominal GDP has been rising consistently since he returned to office—but by an average of just 2.3% a year since the start of 2013.

The new GDP target certainly underscored the government’s determination to pursue economic growth rather than focus on Japan’s huge sovereign debt, which now stands at 246% of GDP. But that does not go down well with credit-rating agencies. The latest to downgrade Japan’s debt was Standard & Poor’s on September 16th. Since Japanese institutions and households hold the bulk of the outstanding debt, and the BoJ is buying almost all new issuance, yields barely budged. But the move signals scepticism that Japan can grow its way out of its problems.

Mr Abe’s second and third new arrows were aimed at his domestic audience and merely embellished his existing programme of structural reform, which has disappointed. He promised greater financial support for families in order to raise Japan’s low birth rate, as well as extra nursing facilities for the elderly. He repeated a pledge to stop the population falling below 100m (on current trends Japan’s population of 127m is set to fall to 87m by 2060).

Reformers worry that the new arrows are substitutes for much sharper ones that Mr Abe has promised to use, but left in the quiver—most notably, an assault on privileged groups, including farmers, doctors and pharmacists, that collectively stifle the economy. Abenomics now risks veering away from its original ambition into populism and misguided policy, says Takatoshi Ito of Columbia University, a former advisor to the prime minister.

Mr Abe was bolder in front of international investors this week in New York. He promised further steps on corporate governance, where much has already been achieved. He would speedily conclude negotiations on the Trans-Pacific Partnership, an ambitious free-trade agreement, he said. A trade deal would help liberalise the economy.

An even bolder step, and perhaps the only plausible way to deal with Japan’s demographic problem, would be to back higher levels of permanent immigration. Despite Mr Abe’s promise to stabilise the population, he shows no willingness to go so far. At the United Nations this week, he pledged to triple aid for refugees and displaced people from Syria and Iraq, but ruled out taking any in. After three years and six arrows, Mr Abe’s knack for archery is in growing doubt.

According to your reading of the passage, what are the pillars of Abenomics ?

1.

Monetary easing

2.

Fiscal expansion

3.

Structural reforms

4.

All 1, 2 and 3

5.

Only 1 and 2

Solution

Answer: The pillars of Abenomics, as mentioned in the first paragraph are ‘monetary easing’, ‘fiscal expansion’ and ‘structural reforms’. Thus, option 4 is the correct answer.

Solution

Answer: On reading the passage one can understand that the author is not in favour of the policies adopted by Shinzo Abe, the Prime Minister of Japan and is thus ‘critical’ of his viewpoints. The concluding line of the passage also hints at this. ‘After three years and six arrows, Mr Abe’s knack for archery is in growing doubt.’ The author does not explain or analyse the policies. Thus, ‘expository and ‘analytical’ are ruled out. The tone is not hostile and thus cannot be described as ‘belligerent’. ‘Cynical’ is not correct because the author is not accusing the Japanese Prime Minister of having only selfish motives, he is just being critical of the policies adopted.

Solution

Answer: From the reading of the passage one can understand that the government has announced a new GDP target which emphasizes its focus on augmenting economic growth. The author is of the opinion that the government must concentrate on its accumulated sovereign debt which is 246% of GDP. These lines from the passage echo the same line of thought. ‘The new GDP target certainly underscored the government’s determination to pursue economic growth rather than focus on Japan’s huge sovereign debt, which now stands at 246% of GDP.’

The possible way to solve Japan’s demographic problem is to allow permanent immigration.

2.

Japan is welcoming the refugees from Syria and Iraq .

3.

The possible way to solve Japan’s demographic problem is to restrict permanent immigration.

4.

Japan has doubled the aid for refugees in Syria and Iraq

5.

All of 2,3,4

Solution

Answer: The statements can be verified from the last paragraph. Japan has tripled the aid for Syria and Iraq refugees but are not welcoming them in their country. Also, according to the author the possible way to solve Japan’s demographic problem is to support higher levels of permanent irrigation. Thus, options 2, 3, 4 are incorrect.

Solution

Answer: The correct synonym in the context of the passage is ‘enhance’ because the ‘new arrows’ have just added on to the existing policies. ‘Simplify’ is an antonym and hence ruled out. ‘Exaggerate’ sometimes is used as a synonym for ‘embellish’ but the context requires a different meaning as given by ‘enhance’.

Solution

Answer: The word as used in the context of the passage means that the new policy of Abe of raising GDP was met with a lot of ‘doubt’. Although, ‘suspicion’ is sometimes used as a synonym, in the context it is not valid. ‘Belief’ and ‘support’ would be contradictory to the context of the sentence.

Solution

Answer:

It is important to understand the context of the sentence. The sentence uses a metaphor in archery to talk about the new policies (arrows) introduced by Mr. Abe. The word ‘kanck’ can have two meanings:

A natural or acquired skill: He had a knack for music.

A tendency to do something: He had a knack of falling easily.

In the passage, the word ‘knack’ has been used in the context of the second meaning and thus ‘propensity’ meaning tendency is the right word to replace it.